Nifty consolidates with Bullish Bias, FII FnO Analysis

FIIs bought 16653 Index Future worth 511 cores with net Open Interest increasing by 14397 contracts.FII’s went long in Nifty Futures and Still maintaing shorts in Bank Nifty futures. Many traders are facing dilemma of long in Nifty and Short in bank Nifty, As a trader we need to trade as per system and go long and short accordingly .

Nifty Opened Gap up consolidated and saw a decent fall in fag end of trading session, Nifty is forming a triangle formation,unable to cross 6066 can lead to profit booking till 5980. RIL results will be booster to market and lets see if it allows nifty to cross above the range of 6066-80.

Nifty Future July Open Interest Volume is at 1.52 cores with liquidation of 9.1 lakhs in Open Interest, Rollovers have started taking place and 9 lakhs got rollovered in Aug series, mostly long.

6000 Nifty CE is having highest OI at 59.3 lakhs with liquidation of 1.78 lakhs in OI,6200 CE added 13.8 lakh in OI and having second highest OI at 58 lakh and premium at Rs 3, so short covering by smart money and also showing expiry should happen below 6200. 5800-6200 CE added 4.5 lakh in OI.